Big Tech Boosts Growth: Strategic Startup Acquisitions and Investments Drive Expansion
Welcome to your weekly recap of the latest happenings in the startup ecosystem! This edition of Startups Weekly highlights significant movements from both emerging startups and established Big Tech companies. If you want to receive these insights directly in your inbox every Friday, sign up here.
Key Startup Developments This Week
This week’s news is dominated by mergers and acquisitions (M&A), alongside a notable IPO in the tech sector. Here are the standout stories:
Blaize Goes Public
Blaize, an AI chip startup founded by former Intel engineers, made headlines by going public on Tuesday. The company specializes in edge applications and had announced its SPAC intentions just a day prior.
Amazon’s Strategic Acquisition
In a significant move, Amazon is reportedly acquiring the Indian BNPL startup Axio for over $150 million. This acquisition aims to enhance Amazon’s financial services in one of its fastest-growing markets.
eBay’s Expansion in Automotive
eBay is set to acquire Caramel, a startup that facilitates transactions between car sellers and buyers. This follows eBay’s previous acquisition of Cargigi and the U.K. classifieds platform Motors.co.uk.
Moody’s Invests in Geospatial AI
Moody’s has agreed to purchase Cape Analytics, a geospatial AI startup, for an undisclosed amount. This acquisition will allow Moody’s to enhance its property database and provide better risk insights for its insurance clients.
New AI Research Initiative
Prominent AI researcher François Chollet has partnered with Mike Knoop, co-founder of Zapier, to launch Ndea. This AI research lab aims to develop and operationalize artificial general intelligence (AGI).
Noteworthy Venture Capital and Funding News
This week also saw significant funding rounds for various startups:
- Colossal Biosciences: Raised $200 million in Series C funding, achieving a valuation of $10.2 billion with ambitions to resurrect the woolly mammoth.
- Loft Orbital: Secured $170 million in Series C funding to enhance its space infrastructure capabilities.
- Synthesia: Closed a $180 million Series D round, achieving a valuation of $2.1 billion with its AI video technology.
- Bioptimus: Raised $41 million to develop an AI model tailored for biological applications.
- Nelly: A Berlin-based startup aimed at digitizing healthcare practices, raised $51 million in Series B funding.
- SEEQC: This quantum computing startup received $30 million in a Series A extension.
- Intel: Announced plans to spin off its corporate venture arm, Intel Capital, into a standalone fund.
- Powerset: A decentralized venture fund co-founded by Jake Zeller will provide $1 million to five to ten founders for investment in other startups.
- MetAI: A Taiwanese startup creating AI-powered digital twins has recently caught Nvidia’s attention as part of its investment strategy.
Insights from the Found Podcast
After two years of interviewing founders for the TechCrunch Found podcast, Rebecca Szkutak has compiled five key pieces of advice that stood out. Some might seem counterintuitive, such as the notion that “It pays off not to be first.” These insights are invaluable for anyone looking to navigate the startup landscape.
For more details on these stories, visit our related articles or check out credible sources such as TechCrunch.
